Episode 3 - The Freeman Law Project - Cryptocurrency Regulation and Taxation: A Brief Primer
This is the final article in our three-part series focused on a key question: as bank-fintech partnerships continue to play a vital role in driving financial services, how does the industry make this system safer and better?...more
On the one hand, the year ended where it began. The legislation on stabelecoins and market structure that would provide a regulatory framework for digital assets has still not been enacted into law. And Securities and...more
Key Points - In SEC v. Terraform, the court has granted summary judgment for the SEC on its claim that the defendants offered and sold unregistered securities in the form of “crypto assets.” This comes amidst the SEC...more
DeFi, Stablecoin Products Launch; Bitcoin Network Spikes Due to NFTs - According to reports, a new decentralized finance (DeFi) protocol recently launched that allows users to deposit the stablecoins USDC or DAI in a...more
THE CHALLENGE: When INX Limited formed in 2017, its founders recognized that market enthusiasm around bitcoin and other blockchain assets would lead to a new standard in the finance industry. Looking beyond the...more
On January 8, 2021, Judge Richard Seeborg of the United States District Court for the Northern District of California issued an Order denying a motion to dismiss in S.E.C. v. NAC Foundation, LLC, et al. The U.S. Securities &...more
The first cryptocurrency, Bitcoin, is still the most well-known application of blockchain. However, this technology has since rapidly evolved and expanded in many other areas. The initial hope with Bitcoin was to make both...more
A government inquiry can result in serious consequences for a company or individual. Our new podcast series, Voluntary Disclosure—brought to you by the lawyers in our investigations, enforcement, and white collar practice—is...more
It was a year filled with tantalizing tidbits and many loose ends. 2019 marked the 10th year since blockchain technology was released into the wild by its still unknown inventor, Satoshi Nakamoto, who mined the first bitcoin...more
HMRC confirms that cryptoassets are not considered to be money or currency for tax purposes. On 1 November 2019, HM Revenue & Customs (HMRC) issued a policy paper on the taxation of cryptoassets for businesses and...more
In the inaugural issue of Investment Management Update, we summarize regulatory, litigation and industry developments from February 2019 to May 2019 impacting the investment management sector....more
Currently, cryptoasset exchanges and wallet providers are not generally required (depending on their business model) to identify their customers, monitor transactions or report suspicious activity. On 15 April HM Treasury...more
Earlier this month, the Securities and Exchange Commission (“SEC”) provided additional guidance on digital assets, which include “tokens” and “coins.” The SEC’s Strategic Hub for Innovation and Financial Technology (“FinHub”)...more
B2C2 Ltd v Quoine Pte Ltd [2019] SGHC(I) 03, a decision of Simon Thorley IJ sitting in the Singapore International Commercial Court, is one of the first instances to apply contractual principles and trust law to a...more
With crypto-currencies on the rise and technological developments providing great opportunities in the financial services sector, Initial Coin Offerings ("ICO") provide an innovative way of raising capital. They are...more
The UK FCA launched on 23 January 2019 its highly anticipated consultation1 (CP19/3) on Guidance for market participants as to where certain cryptoassets sit in relation to the regulatory perimeter - and whether relevant...more